Analysis: Trump's support for cryptocurrencies becomes a key factor in his 2024 presidency

Speaking at the Coinbase Crypto Summit, Trump campaign co-manager Chris LaCivita said Trump's support for cryptocurrencies became a key factor in his success in office in 2024. LaCivita noted that the cryptocurrency issue has helped the Republican Party appeal to traditionally Democratic-leaning groups of voters, including African Americans, Asian Americans, and younger voters. Data shows that 28% of Asian Americans and about 20% of African Americans own cryptocurrencies, compared to 14% of whites. The Trump administration has written crypto-friendly policies into the Republican platform, promising to protect bitcoin miners and ban central bank digital currencies. At the same time, political action committees backed by Coinbase and Ripple Labs have invested more than $200 million in the 2024 election, boosting the influence of cryptoassets in American politics.